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[QUOTE="Queen, post: 87334, member: 27"]
OK Zimbabwe is fighting to survive after suppliers cut ties and stopped credit. The company’s financial situation went south fast, and now it’s under corporate rescue.

OK Zimbabwe enters corporate rescue
[LIST]
[*]The board filed for corporate rescue on 23 February 2026.
[*]Bulisa Phillimon Mbano from Grant Thornton is in charge.
[*]Suppliers stopped trading with OK Zimbabwe after cutting credit terms.
[*]The retail giant faces major challenges after stock shortages hit hard.
[/LIST]
Despite US$20 million raised, confidence is still shaky
[LIST]
[*]The rights offer didn’t restore supplier trust or solvency.
[*]Stock shortages led to plummeting revenue and worsened cash flow.
[*]Debt repayments and capital expenses drained funds last year.
[*]The board sees potential for a comeback through valuable assets.
[/LIST]
Corporate rescue process begins
[LIST]
[*]Notice filed on 24 February 2026 with the authorities.
[*]Creditors, employees, and shareholders have been notified.
[*]A turnaround plan will be drawn up to revive the company.
[/LIST]
[/QUOTE]

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